East Baton Rouge November 2013 Home Sales and Sold Volume Down Drastically
November Sold Volume was down over $10,000,000! Reason for concern?
This report covers East Baton Rouge Parish home sales only, All types of homes in the Parish. YES, November is seasonally a slower month BUT November 2012 versus November 2013 show stark differences.
The Question I'm Asking Is This: There's been all this "Talk" about a $450 Billion Industrial Expansion around Greater Baton Rouge for at least 1 to 2 years already and resulting positive impact on local economics including housing. So, when is all of this $450 Billion going to begin a impact local home sales in a positive manner? We in the Baton Rouge Real Estate Industry (Baton Rouge REALTORS, Baton Rouge Appraisers, Baton Rouge Home Inspectors, Baton Rouge Title Companies, Baton Rouge Pest Control Companies ALL need this HUGE industrial expansion to kick in BIG TIME to help combat the rise in mortgage interest rates, which will slow housing and reduce our incomes. The Mortgage Bankers Association predict mortgage loan originations will be down 32% in 2014.
The Good Baton Rouge Real Estate News is Median Home Prices were UP by $10,500 just for the month of November 2013 as compared to November 2012. And, the number of days it took to sell a home was down 13 days.
The Not So Good News for East Baton Rouge Housing Market is that the number of home sales were down 47 sales, months supply increased and sold volume was DOWN over, $10,000,000.
East Baton Rouge Real Estate Home Sales From 01/01/2013 to 12/17/2013 Chart Is Below
BATON ROUGE REAL ESTATE DATA NOTE:
Based on information from Greater Baton Rouge Association of REALTORS® \ MLS for period 11/01/2012 to 12/17/2013, extracted on 12/17/2013.
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